LoggingTradesZB contract specs
| Contract | 30-Year T-Bond (ZB) |
|---|---|
| Exchange | CBOT (CME Group) |
| Contract size | $100,000 face value 30-year U.S. Treasury bond |
| Tick size | 0.03125 |
| Tick value | $31.25 |
| Point value | $1,000 |
| Typical session | Sunday–Friday, 6:00 p.m.–5:00 p.m. ET (5:00 p.m.–4:00 p.m. CT) on CME Globex, with a daily break from 5:00 p.m. to 6:00 p.m. ET. Holiday hours differ. |
Specs as listed by CME Group; confirm with your broker. Margin requirements vary by broker and prop firm, so they are not listed here.
ZB tick value in dollars
ZB is the 30-year T-Bond future. The tick is 1/32 of a point ($31.25), so a one-point move in price is 32 ticks, or $1,000 per contract.
Worked example. You buy 1 ZB at 118 and sell at 119. The move is 1 price units, which is 32 ticks (prices shown as decimals; Treasuries are quoted in 32nds, so 0.25 is 8/32). At $31.25 per tick that is $1,000 per contract; trading 2 contracts doubles it to $2,000. A stop the same distance away would cost the same amount, which is why you should convert every stop into dollars before you enter.
Sizing and risk
ZB is a full-size contract; use the position size calculator to see whether one contract fits your stop and risk limit.
To turn a stop distance into a contract count, use the position size calculator. Inside a prop-firm evaluation, check the result against the drawdown with the prop firm challenge calculator, and read the micro vs mini futures guide.
FAQ
What is the ZB tick value?
One ZB tick is 0.03125 and is worth $31.25 per contract. One full point is $1,000 per contract.
How many ticks are in a point for ZB?
32 ticks per point, because the minimum price increment is 0.03125.
How much do I make or lose on a 32-tick ZB move?
32 ticks × $31.25 = $1,000 per contract, before commissions and fees. With 3 contracts that is $3,000.
When does ZB trade?
ZB trades on CME Globex Sunday–Friday, 6:00 p.m.–5:00 p.m. ET (5:00 p.m.–4:00 p.m. CT) on CME Globex, with a daily break from 5:00 p.m. to 6:00 p.m. ET. Holiday hours differ. Confirm current hours with your broker and CME Group.